Global gold holdings have expanded by more than 500 metric t since bottoming in January in a signal of investors’ rising concern about slowing growth, a Federal Reserve that’s probably on hold and the ructions caused by Britain’s vote to quit the European Union. Assets in bullion-backed exchange-traded funds rose 6.6 t to 1 959.1 t on Friday, up from 1 458.1 t on Jan. 6, according to data compiled by Bloomberg. The holdings increased 37 t last week as investors reacted to the UK’s vote, and swelled in five months out of six in the first half.
